Reinsurance News
Lloyd’s news
Lloyd’s of London insurance and reinsurance market news, covering the happenings at the world’s oldest reinsurance market, housed in the iconic Lloyd’s building in the City of London.
News on syndicates operations, company formations and corporate members in the Lloyd’s marketplace.
Lloyd’s introduces electronic placement mandate for syndicates
20th March 2018
The Lloyd’s of London marketplace has announced that it is to issue a mandate for electronic placement, which will require syndicates to progressively write more of their risks electronically. After Q2 2018, all Lloyd’s syndicates will be required to write at least 10% of their risks electronically, rising to 20% in ... Read the full article
Lloyd’s names Dawnmarie Black as U.S. Northeast Regional Director
20th March 2018
The specialist Lloyd’s of London insurance and reinsurance marketplace has named Dawnmarie Black, who joins from London broker BMS Group, as U.S. Northeast Regional Director. Based in the Boston area, Black will assume responsibility for market development activities in a 12 state region stretching from Maryland to Maine, and Washington D.C. Lloyd’s ... Read the full article
ACORD and Lloyd’s in new processing standards partnership
19th March 2018
ACORD, the re/insurance industry data standards body, has announced that Lloyd’s coverholders and MGAs are now eligible to access ACORD Delegated Authority Standards, information, training and other valuable resources. Lloyd’s coverholders can now benefit from access to ACORD Standards for Delegated Authority Insurance Transactions and a platform to collaborate on the ... Read the full article
India’s GIC Re to open Lloyd’s syndicate in April
16th March 2018
General Insurance Corporation of India (GIC Re), the country's state-owned reinsurer, has announced that it will begin operations as a Lloyd’s of London syndicate in April 2018, in accordance with a Lloyd’s approved business plan. The syndicate is to be managed by Pembroke, Liberty Mutual Company’s (LMC) specialist Lloyd’s managing agency, ... Read the full article
AFL Insurance Brokers appoints Alex Mott to lead new marine division
15th March 2018
Independent Lloyd’s broker AFL Insurance Brokers (AFL) has appointed Alex Mott to head up its newly launched commercial Marine division, as Director of Marine. Mott previously managed the Ed / CGNB Marine broking team as Head Broker. His career as a Lloyd’s broker and broking team manager has seen him specialise ... Read the full article
Carrie Trudeau appointed to manage AEGIS Canada claims
7th March 2018
Lloyd's managing agent AEGIS London has appointed Carrie Trudeau to manage Canada claims, based in Toronto. Trudeau will strengthen relationships with London market brokers while supporting AEGIS London’s coverholders writing property and other lines of business in Canada. In her new role she will work with and eventually replace Spencer Shusterman who ... Read the full article
Inga Beale warns London is losing market share and relevance
1st March 2018
Lloyd's Chief Executive Officer (CEO) Inga Beale warned at the Association of British Insurers (ABI) conference that the London re/insurance centre is losing market share and relevance, as emerging markets gain traction in the global re/insurance hub space, A.M. Best reported. Beale said that while London remains the largest global insurance ... Read the full article
Latin American protectionism could threaten re/insurance growth prospects: Carnegie-Brown
16th February 2018
Despite Latin American market conditions of low insurance penetration and strong economic growth being favourable for an upsurge of re/insurance demand, the region's protectionist stance could put a damper on efficient risk transfer and consequently hinder socio-economic development, Lloyd's chairman Carnegie-Brown warned at a recent Lloyd’s Meet the Market event in Miami. Carnegie-Brown ... Read the full article
Lloyd’s to launch technology Innovation Lab
15th February 2018
Lloyd's of London has announced that it will be launching an Innovation Lab later this year, as the market looks to develop advanced technology solutions to meet its rapidly changing needs. The Innovation Lab will allow Lloyd's to test new concepts, design advanced technology solutions to solve market issues and give ... Read the full article
AFL Insurance Brokers appoints Barry Rowland & Chris Cavani to property team
15th February 2018
Independent Lloyd’s broker AFL Insurance Brokers (AFL) is expanding its wholesale property team with the appointment of re/insurance professionals Barry Rowland and Chris Cavani. Rowland joins AFL as Director, Property & Casualty from a role with reinsurance broker JLT Re as a Facilities and Binder Partner. Cavani joins from Alston Gayler where ... Read the full article
Lloyd’s appoints three new directors to Franchise Board
6th February 2018
Lloyd's of London has announced the appointments of Mike Bracken, Nigel Hinshelwood and Fiona Luck onto the Franchise Board as non-executive directors for three-year periods, with effect from 1st March 2018. Welcoming the appointments, Lloyd's Chairman, Bruce Carnegie-Brown said; “These are great appointments for Lloyd’s. Mike, Nigel and Fiona bring experience ... Read the full article
Lloyd’s proposes to mandate use of electronic placement
5th February 2018
The specialist Lloyd's of London insurance and reinsurance marketplace has announced that it plans to proceed with electronic placements to increase efficiency in the market. "The London Market has made great strides towards modernisation. We have invested time and money in the London Market Target Operating Model (TOM) programme and delivered ... Read the full article
Axon Underwriting Services gets Lloyd’s cover-holder approval
29th January 2018
Environmental and Specialty Lines Program Administrator Axon Underwriting Services has been approved as a Lloyd's cover-holder. Axon Underwriting said it will use its Lloyd's status to develop innovative insurance products and market responsive solutions, initially focusing on stock throughput. "We are extremely honored with Lloyd's confidence in Axon. Coverholder status expands our ... Read the full article
Lloyd’s Inga Beale cites concern over Brexit uncertainties at the WEF
29th January 2018
As Brexit negotiations enter a second phase to focus on a trade deal once the U.K. leaves the European Union, Lloyd's Chief Executive Officer Inga Beale reiterated concerns over the impact on business of remaining Brexit uncertainties at the World Economic Forum (WEF) in Davos. She told the CNBC; "the government ... Read the full article
Lloyd’s eyes “terrific” growth prospects in India market
25th January 2018
Speaking to the India Economic Times Lloyd's Chief Executive Officer (CEO) Inga Beale called India "a fantastic opportunity" with "terrific" growth prospects, as Lloyd's looks to expand local syndicates and increase its current $220 million annual India market revenue. "Whether the growth in insurance line is driven by government action or ... Read the full article
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